NZ Govt Bond Tender #635; weighted average accepted yield down to 2.56%; coverage ratio up to 3.99x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 635 held on May 24, 2018.

Tender Date: Thursday, May 24, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, May 29, 2018

  May 24 - #635 Apr 12 - #632 Feb 15 - #627 Jan 18 - #624 Dec 15 - #623 Nov 15 - #620 Oct 19 - #617   May 18 - #603
Series Offered 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025   2.75% 15 April 2025
Total Amount offered ($million) 200 200 200 200 200 200 200   150
Total Amount Allocated ($million) 200 200 200 200 200 200 200   150
Total Number of bids Received 38 41 40 35 44 33 43   30
Total Amount of bids Received ($million) 797 604 557 662 772 523 532   512
Total Number of Successful bids 13 14 12 10 11 15 20   1
Highest Yield Accepted (%) 2.5650 2.6250 2.7800 2.6900 2.5700 2.6800 2.7650   2.6950
Lowest Yield Accepted (%) 2.5550 2.6150 2.7600 2.6800 2.5500 2.6550 2.7400   2.6950
Highest Yield Rejected (%) 2.6300 2.6750 2.8750 2.7400 2.6400 2.7450 2.8300   2.7600
Lowest Yield Rejected (%) 2.5650 2.6250 2.7800 2.6900 2.5700 2.6850 2.7650   2.7000
Weighted Average Accepted Yield (%) 2.5632 2.6218 2.7719 2.6875 2.5601 2.6711 2.7545   2.6950
Weighted Average Rejected Yield (%) 2.5741 2.6391 2.8046 2.7089 2.5902 2.7056 2.7942   2.7256
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 41.6 59.9 73.7 78.9 5.2 100.0 76.9   100.0
Coverage ratio 3.9850 3.0200 2.7850 3.3100 3.8600 2.6150 2.6600   3.4133

*Individual allotments may vary due to rounding.

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